Sunnova Announces Appointment of Eric Williams as Chief Financial Officer

Rhea-AI Summary

Sunnova Energy International (NYSE: NOVA) has announced the appointment of Eric Williams as Executive Vice President and Chief Financial Officer, effective June 10, 2024. Williams, a finance veteran with over 20 years of experience, including 13 years in the energy sector, departs Diversified Energy Company where he was CFO. At Diversified, he led the issuance of approximately $2 billion in securitized debt. Sunnova CEO, William J. Berger, expressed confidence in Williams' ability to drive growth and success. Williams will succeed Robert Lane, who has been CFO since May 2019 and played a key role in Sunnova's IPO and other strategic initiatives.

Positive

• Eric Williams brings over 20 years of experience in finance, with 13 years in the energy sector.
• Williams is recognized for establishing asset-backed securitization and issuing $2 billion in securitized debt at Diversified Energy.
• The appointment is effective June 10, 2024, ensuring a planned and orderly transition.
• Williams' expertise is expected to build on Sunnova’s strong financial framework and create long-term value for shareholders.

Negative

• The departure of Robert Lane, who has been instrumental in Sunnova’s key financial milestones since 2019, could create transitional challenges.
• There could be short-term uncertainties or disruptions as the company adapts to the new leadership style.

HOUSTON--(BUSINESS WIRE)-- Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), an industry-leading adaptive energy services company, announced that Eric Williams has been appointed Executive Vice President, Chief Financial Officer, effective June 10, 2024.

Williams is a seasoned finance executive with more than 20 years of experience across multiple industries. He has worked in the energy industry for the past 13 years of his career, most recently as Chief Financial Officer and Executive Vice President of Diversified Energy Company. During his tenure with Diversified, Williams established the company’s asset backed securitization structure and, in total, led the issuance of approximately $2 billion in securitized debt.

"Eric’s extensive background in the energy sector and impressive track record in finance and accounting will be invaluable to Sunnova, and we are confident he will be a key driver in our growth and success going forward," said William J. (John) Berger, Chief Executive Officer at Sunnova. " As a seasoned financial leader with deep experience in leveraging the capital markets, we believe Eric is uniquely positioned to continue building Sunnova’s strong financial framework and create more long-term value for our shareholders."

“I was drawn to Sunnova by its commitment to power energy independence and make clean energy more accessible, reliable, and affordable for homeowners and businesses,” said Williams. “Building on its unique accomplishments and strong history as an industry leader, I am confident in Sunnova’s ability to create value for all stakeholders and realize its vision for a clean energy future. I also count it a privilege to succeed Rob Lane, whose leadership and contributions have been invaluable. I am grateful for his help ensuring a seamless and effective transition, and I am eager to begin working with his talented team.”

Williams will replace Robert Lane, who served as Sunnova's Executive Vice President, Chief Financial Officer from May 2019 to June 2024.

“Rob was instrumental to Sunnova’s success in the years since our IPO,” Berger said. “From executing our initial public offering, to our acquisition of SunStreet Energy Group, and launching the industry’s first corporate green bond, Rob positioned Sunnova well for the future, and I’m grateful for his efforts.”

About Eric Williams

Prior to joining Sunnova, Mr. Williams served from July 2017 to September 2023 as Chief Financial Officer and Executive Vice President of Diversified Energy Company, a dual-listed, publicly traded independent operator of gas and oil wells within the Appalachian Basin and central region of the United States. Mr. Williams previously managed various disciplines at Callon Petroleum Company including roles in financial reporting, finance, and leading its investor relations efforts. Prior to his time at Callon, his career included various audit, accounting, and financial reporting roles with several publicly traded companies. Mr. Williams is a Certified Public Accountant and received his Master of Accounting from the University of Alabama and his Bachelor of Business Administration in Accounting from Samford University.

About Sunnova

Sunnova Energy International Inc. (NYSE: NOVA) is an industry-leading adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses. Through its adaptive energy platform, Sunnova provides a better energy service at a better price to deliver its mission of powering energy independence^TM. For more information, visit http://www.sunnova.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240607664726/en/

Sunnova media contact:

Ryan Bechtold

Ryan.Bechtold@sunnova.com



Sunnova investor contact:

Rodney McMahan

877-770-5211

IR@sunnova.com

Source: Sunnova Energy International Inc.

FAQ

Who is the new CFO of Sunnova?

Eric Williams has been appointed as the new CFO of Sunnova, effective June 10, 2024.

What is Eric Williams' background?

Eric Williams has over 20 years of experience in finance, with 13 years in the energy sector. He was previously CFO at Diversified Energy Company.

When will Eric Williams start his role at Sunnova?

Eric Williams will begin his role as CFO of Sunnova on June 10, 2024.

What are some achievements of Eric Williams in his previous role?

Eric Williams established an asset-backed securitization structure and led the issuance of approximately $2 billion in securitized debt at Diversified Energy.

Who is Eric Williams replacing at Sunnova?

Eric Williams is replacing Robert Lane, who has been Sunnova's CFO since May 2019.

What did Robert Lane achieve during his tenure at Sunnova?

Robert Lane was instrumental in Sunnova’s IPO, the acquisition of SunStreet Energy Group, and the launch of the industry’s first corporate green bond.